Teachers' Pensions and moving abroad

beckles_2

My husband and I are both teachers in the Teachers' Pensions Scheme and we are moving abroad to teach for a few years. We want to continue our pension contributions and pay extra if possible as there will be no employer contributions there. However, we have been told by TP that we will not be able to continue contributing.:mad:
Does anyone know anything about this? Surely this will affect our final pension a lot as it is based on continual service isn't it?

seven-day-weekend

I'm no expert, but I think the only way it will be affected is that you will have paid in for fewer years, and so may be less than if you had not had the break. But your existing pension will still be there for you when you return and you will just pick up where you left off.

If you return onto a smaller salary than previously, this can also diminish your final pension as it is based on final salary.

I don't think continuous service matters in itself, it is total years that count.

I stress this is only my personal opinion and I am not a pensions expert.

jem16

I had abreak in teaching of approximately five years when I was bringing up my children. It does not affect my pension apart from the fact that I have five years less service so I would only be able to get a 35/80ths pension instead of a 40/80ths pension.

To make up the difference I have chosen to buy back years so pay more more into my pension at the moment. This option has now been taken away and been replaced with buying added pension ( not quite as good but a similar idea).

You won't be able to pay into the teacher's pension if you are not employed here but you will be able to rejoin the scheme when you return. During the missing years perhaps you could pay into whatever scheme is available where you will be teaching?

stone_broke_2

HI, I looked into this a few years back- I think you can continue paying in for a couple of years, but you have to pay your current contribution and also your employers as well (this works out at about 15%+) of your pay, so not cheap. I would check the teachers pensions website for more details.